Five Years From Now – 4 Questions to Help You Map Out the Perfect Plan

Towards the end of last year I got a really great little book simply called 5 by Dan Zadra.  It takes you through the process of thinking about where you want to be in 5 years, urging you to think big, figure out what it is you REALLY want and helping you set those goals while not getting off track along the way.

As we wind down 2009, it’s that time of year to start making plans and setting goals for next year.  With that in mind, here’s my own take on “5″ and some questions you may want to keep in mind when setting goals for 2010 and onward.

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What Would You Do If You Weren’t Afraid?

I was re-reading a book I picked up a few years ago and thought I’d share it with you here. The title of the book is “Who Moved My Cheese”. It’s a bit difficult to explain briefly, but it’s basically about dealing with change in life. It’s a much better book than that description makes it sound and I highly suggest you pick up a copy. It’s pretty short and even has large print, so you can get through it in a couple of sittings at most.

As the story unfolds, one of the characters realizes that he’s really just plagued by fear of the changes going on around him, to the point of being paralyzed and doing nothing. Then he asks himself the question that I used as the title for this blog post. So with that in mind…

What Would YOU Do If You Weren’t Afraid?

I think all of us entrepreneurs have fears crop up from time to time. I even spoke to a very successful family friend with her own consulting business of 20+ years who said she still has doubts from time to time. So certainly, those of us on the front end of this journey have fears and doubts sometimes.

But that question is a pretty compelling one to think about. If you’ve been learning about online business for a little while, you probably know most of what you need to know to be successful. There may be some technical skills you could get better at, better copywriting or other things. But for the most part, there’s not all that much to understand. And quite honestly, you’ll never know it all…it’s a continuous learning process. So most of the time, lack of success can probably be boiled down to fear.

You might not even think you’re afraid. I know because that’s how I am. Instead, the fear may be masking itself as confusion, too many choices, not enough time, or some other excuse. But if you think about it, most of those are just forms of fear – fear that you’ll choose the wrong market, the wrong product, that no one will buy it, that it’ll take too long to make and so on.

But put all that aside and just ask yourself what you would do if you weren’t afraid.

You’d probably go ahead and create that product, put those videos on YouTube, start that blog and get your articles posted, start promoting your affiliate program, or whatever else is eating at you…right? Especially if you already saw those things working for someone else.

If you’re tring to figure out what to do (or what to do next), thinking through the answer to this question might be a worthwhile exercise to go through.

I also suggest getting a copy of this book. It’s on my list of books to go back through at least once a year. There are a lot of great little lessons packed in to a fun and easy-to-read story.

Excuse #1: I’m Not an Expert

Well, here we are at #1 on the list…let’s get to it.

Excuse #1: I’m not an expert

This excuse is one that comes up time and time again, especially for infoproduct developers.  And when you think about it, this is sort of a "chicken or the egg" thing…which came first?

A lot of people don’t want to write those blog posts or articles, create those products or podcasts, build a list or any other online business activities because in their head, they’re not an expert.

Well think about authors for a second.  Writing a book makes them an expert, at least in the eyes of many of us, no matter what their TRUE experience may be.

The same goes for you…doing those things mentioned above (creating content) is what makes you an expert.

It forces you to organize what you know (or research the topic well enough), then synthesize it into an easy-to-follow format.  Knowing something is one thing.  Being able to explain it or teach it is what really makes someone an expert.

You don’t need to know every nit-noid detail about your topic to be an expert.  You’ve probably heard that old saying that studying something for an hour a day for a year is all you need to become an expert.  That’s a good starting point.  And by the way, don’t worry about needing to know EVERYTHING.  No one knows everything.

I’ve also heard that something like 80% of books purchased on Amazon are bought as gifts, not for self-consumption.   I’m not sure if that number is accurate, but let’s just say "most books".

So obviously not too many people are really out there trying to become expert in much of anything…which probably includes people in your market too.  So if you’re willing to take a little time to research and learn about your topic, you’ll know more than the average person in your market, and therefore, YOU’RE the expert.  And you probably already know more than you’re giving yourself credit for.

Let’s face it…no one, not even your own mother, is going to come down from on high and anoint you an "expert".  You just gotta’ go get it, by demonstrating it through your content, the products you create, what you teach and what you do.

Excuse #2: No One Will Buy That

Almost to the top of the list…check out number 2 on the list of common excuses for not starting your online business.  This one affects a lot of people.

Excuse #2: No one will buy that

Maybe they won’t. 

Or maybe it’ll be so costly to get traffic to your site (in time or money) that the numbers don’t make sense even if people DO buy it. 

But you should have a fairly good idea about whether people will buy your "thing" before you even start creating it.  Are they buying similar things from someone else?  Then why not you too?

Remember, for a lot of topics (most actually), people are going to buy more than one solution…especially if they’re passionate about learning something.

And ideally, you would have already done a bare minimum of market research first – and hopefully built a list of potential customers – before creating ANYTHING.  You would have also found other sites, newsletters, blogs, etc. where your ideal prospects can be found.

Doing those things can minimize the "no one will buy that" factor.  And if you already have something on the market that’s not selling, here are some other things you should consider:

• Have you tested different parts of the sales process to see where the problem is? 
• Are you getting enough traffic? 
• Are people not staying on the site very long? 
• Are they staying, reading, but not clicking the "buy" button? 
• Are they clicking the "buy" button but not completing the order?

If nothing seems to be working, before you take it off the market, think about how you can repurpose it? Can you break it up and use it for content, list building or some other purpose?

Hopefully it won’t come to that, but not all projects work out like we planned.

That being said, that old excuse of "no one will buy that" is rarely the case unless due to poor planning or market research.

Excuse #3: I’m Not Technical, Don’t Know HTML and So On

Here’s the next in our "common excuse list".  This one’s kind of funny because I’m just the opposite and I think it hurts more than helps.  Anyway, here it is…

Excuse #3: I’m not technical, don’t know HTML and so on

This is another sorta’ legitimate excuse, but not really. 

You’ll hear a lot of the gurus say that you don’t need to know squat about HTML and so on, and even brag about how they know next to nothing about that stuff.  And it’s true that in the end, there’s not much money in that. 

But when you’re just starting out, it certainly helps if you know (or can learn) a little bit about HTML and some of the other techie things.  Not so much that you "geek out" on this stuff, but enough so that if you need to change a headline on your sales page, you can do that in the 2 minutes it takes rather than waiting 2 days for some webmaster to do it for you (for a fee).  Or if you need to install a new script, you can get that up and running in a few minutes rather than putting it off till….well…whenever.

But as someone who’s fairly technical, I’d say that it’s sometimes a hindrance rather than a help.  Knowing how to do something doesn’t mean you should, and when you know how to mess around with this stuff, you often times end up "messing around with stuff" which takes you away from the things that really do matter.  Or maybe that’s just me.

That said, I still suggest learning at least little bit of the basics.  There are a couple of resources I used to get myself up to speed that you may find useful also.

• W3 Schools (a free resource with tutorials on all sorts of web-geekery)
• How You Can Master CSS (THE COURSE I used to learn the basics of CSS…more than made up for the cost in time, aggravation and money saved)
• If you have any other recommendations, let ‘er rip in the comments below

If You’ve Never Failed, You’ve Never Lived

Not to get all touchy feely and all, but here’s a little inspiration for you. 

I found this posted on another site I visit quite a bit. 

I think this is something that will strike a chord with just about every entrepreneur or budding business owner.  Whenever you get the crazy idea in your head that you’re going to quite, just think what would have happened if one of these people had decided that!  Amazing!

Kenton

P.S. – If you know of any other similar "failed on the way to success" type stories, please take a second to tell us about it by leaving a comment below.

Excuse #4: I’m Not a Good Writer

Alright…back with another in our list of common excuses.  We’ve worked our way up to number 4 and it seems like a lot of people have this one.  Hopefully this helps.

Excuse #4: I’m not a good writer

Okay, if this is your excuse, do the following:

Go to EzineArticles.com (or whatever article directory you want to use for this test).  Look at the articles that cover your market.  If you don’t have a market yet (or your market isn’t listed there for some reason), just pick a category that even slightly interests you…it really doesn’t matter for this exercise.  Now, read through the last 5 or 10 articles that were posted. 

Be sure to pay special attention to the general lack of calls-to-action in the resource boxes for most of these articles, the crappy titles for most of them, and other easily-fixed, yet all-too-common mistakes.  You’ll know better than this and will already be a step ahead, but that’s not the point. 

The point is that as you read these articles, notice that there’s not much award-winning writing going on here.  These are just regular folks like you and me for the most part, writing about topics and hopefully driving people to their sites.  Nothing fantastic, just good enough to get the job done, and sometimes even some pretty useful info.

Next…go to your favorite blogs or check out the RSS feeds you’re subscribed to.  Nothing all that magical going on there either, right (yes, including my own).  Just regular people writing about their topic, providing valuable info (hopefully).  After all, that’s the whole point of a blog, isn’t it?

So if this is your excuse, why?  Where are you seeing this award-winning writing online?

It doesn’t really take all that much to create some "good enough" articles and blog posts as long as you know a little bit about your topic.  But it can certainly help if you have some tools or resources that make the process of writing easier.

If you’d find it useful to have a tool that takes some of the pain out of the writing process, by showing you how to plan, organize and polish your writing for any topic, I highly suggest this resource which makes article writing a piece of cake. 

I’m fairly comfortable with writing and it still helped me quite a bit.  I’m pretty sure it’ll help you too, no matter how good or bad a writer you think you are. 

Oh, and you can use the same strategies for blog posts or just about any other type of content too.

P.S. – Yes, that’s an affiliate link.  But since it’s a resource I personally use, I feel totally fine recommending it to you.  However, if you’re not at the point where writing articles and blog posts is a major part of your strategy (like if you haven’t even chosen a market yet), then DO NOT invest in that resource right now.  Just a suggestion.

Excuse #5: I Don’t Have Money for Learning, Basic Setup, Etc.

This common excuse for not starting your online business is hopefully one that’s easy to overcome.  However, for some, it might be a legitimate excuse, so I offer some suggestions for how to do things "on the cheap" in the short blurb below.  Take a look…

Excuse #5: I don’t have money for learning, basic setup, etc.

For some people, this may be a legitimate challenge.  After all, ANY business has certain costs involved and an online business is no different.  But for most people, it’s a PERCEIVED challenge.  When you figure out what’s actually needed in order to get your online business up and running, and you really run the numbers, the costs aren’t that much.  You’ll probably want to have the following:

• a domain name ($10)
• a free webpage editor like NVU ($0)
• a low cost web hosting account ($15/month)
• an autoresponder account through AWeber ($20/month)

In fact, you could skip those first three, get a free blog account at Wordpress.com, and add your autoresponder there instead.  But you have to be building a list (a topic preached ad nauseum, to be covered here another day).  You could technically get rid of the need for AWeber too, and just use one of the freebie email list managers.  But it’s so critical for your business that it’s one of the last things I’d consider skimping on.

As for the rest of the costs? 

Time.  Rolling up your sleeves and getting to work.

Creating content…adding value. 

Creating a place online where people can go where, when they leave, they’re BETTER OFF than when they showed up. 

They know a little more, have answers to some burning question, or otherwise "got something out of it". 

What can you teach someone today or show someone today that will leave them better off than when they started their day? 

Doesn’t take much money to do that.

Excuse #6: I’m Not a Good Copywriter

Here’s another item from our list of common excuses for not getting your online business up and running.  Pretty easy fix here, but will take some time over the long haul.

Excuse #6: I’m not a good copywriter

This is a skill you’ll probably want to learn.  But…

Don’t buy any infoproducts on the subject yet…the price will be pretty high for most of them. 

Instead, head over to Amazon.com and pick up a handful of the best copywriting books.  Here are a few I recommend:

• Words That Sell (and others in the series, including the spin off – Phrases that Sell)
• Web Copy That Sells by Maria Veloso
• The Online Copywriter’s Handbook by Robert Bly
• The Ultimate Sales Letter by Dan Kennedy
• Note: If you have any other suggestions, just leave a comment below

I have a few copywriting infoproducts and some books too.  Other than the case studies, swipe files and a few little extras here and there, the major portion of what’s in the infoproducts can also be found many books…certainly the basics. 

Bottom line is the books will get you 80% there. 

One thing to keep in mind about learning copywriting is that by doing so, it can make you better at selling your product or service in other types of media…like helping you figure out what to say in an audio or video, what to put in your resource box for your articles, writing pay-per-click ads, and so on. 

All of those things can be based on skills you pick up as you learn to write effective copy. 

But it shouldn’t be something that causes inaction in the beginning.

P.S. (Bonus Tip) – Start keeping an eye out for headlines, blog post titles, article titles, bullet points (which should also be headlines) and other copy that appeals to you.  Then, create a swipe file and start adding examples to it.  Turn them into fill-in-the-blank templates and use them for your own headlines, content titles, etc.

Excuse #7: I Don’t Have a List (Or a Big Enough List)

Here’s a common excuse for not starting an online business that’s easily solved.  Take a look…

Excuse #7: I don’t have a list (or a big enough list)

Whose list are you on right now and why? 

Whose lists have you stayed on for awhile?  Why?

Answer those questions and then model their success (or avoid whatever they messed up). 

For me, I have a handful of people that I get emails from using my primary address.  The rest get sent to a different address I check about twice a month. 

The difference? 

Quality info, frequent contact, brevity and a reasonable level of pitching compared to content (people have to make a living after all and I don’t begrudge anybody making a buck). 

On the other hand, if I only hear from someone when they have something to pitch, I either unsubscribe or change the email address to that second one I mentioned.  I actually have a third one that I use as a swipe file and that one gets spammed to death, but makes for some good headlines from time to time.  Sometimes I’ll move them to that address or resubscribe using that one instead.

Use that as a rough guide or use your own criteria as a starting point, then deliver something that you would sign up for and stay subscribed to. 

That probably means giving away some sort of content for free…either a report, articles, mini course, videos, audio, etc.

If you’re serious about building your list, then I highly suggest you use AWeber to manage them.  I’m on a couple of lists that use some other popular services and nearly all of those get sent right into the SPAM folder for me to fish out later.  If they ever sent anything time-sensitive, I’d miss it because I don’t check the SPAM folder that often. 

Plus, AWeber’s blog offers some awesome content to help you with email marketing (like the post on "Reasons Why People Unsubscribe" which that last link points to).  In fact, whatever service you use, you should subscribe to their RSS feed or email broadcast just to get some great ideas to implement in your email marketing campaign (easier to do if you’re using their system obviously).

You can find out more here : Aweber 

P.S. - Yes, those are affiliate links (other than the blog link).  I have no qualms about promoting AWeber as an affiliate though.  I use it, I love it, it’s the best service by far.  In fact, it’s one of the few services that I pay for annually versus month-to-month.  It’s that important.

Excuse #8: I Don’t Know How to Choose a Good Market

Ahhh, a personal favorite of mine, and the next in our list of excuses that keep people from starting their online business…

Excuse #8: I don’t know how to choose a good market

The truth is, you might not get it right the first time anyway, so just pick something.  No one gets from point A to point B in a straight line.  But you can’t get ANYWHERE until you START something. 

That said, in terms of market selection, the ideal is finding an overlap between what you like and what people want.  Hopefully you’ll find a topic that you’re interested in that also appeals to a wide audience…things that would appeal to the average Joe on the street. 

Most people want to make money, save money, save time, lose weight, attract the opposite sex, maintain or improve their health and so on.  If you can fit your topic into one of those areas, you’re probably on the right track. 

That’s not to say that you should have some generic site on making money discussing every "biz opp" on the planet.  But if you can show people how earn an income online, how to create and sell crafts from home, how to earn money with their digital camera, or as a home based travel agent, you’re getting there.  That’s all "make money" stuff. 

Same goes for the other topics.  So not just generic "lose weight" stuff, but losing weight while still being able to scarf down your box of cookies every night.

On the other hand, you may find that there’s not much demand for the stuff you’re really into.  Or that you’re kinda’ boring and aren’t into that many things.  You may have to find new interests, pick up new skills or be willing to learn new things.  But more than likely, you already have some interests you can run with. 

Also, is anyone selling to these people already?  Not too many people in the "monkey combat training" market and not too many new people coming in either. 

But how about digital photography?  Dating?  Real estate?  You get the point.

PS – I Googled the term "monkey combat training" after I wrote this, just out of curiosity, just to see what would show up.  170,000+ results!  That’ll teach me, but I’ll leave it as-is anyway.

Excuse #9: I Need Money Now, With Minimal Work

Here’s the next in our lineup of common excuses for not getting an online business going…

Excuse #9: I need money now, with minimal work…this all sounds like a lot of work, like it will take a long time, blah blah blah

Yes, there’s work involved. 

The push-button, "we’ll do all the work, you just cash the checks" stuff can be saved for crappy sales letters and late night infomercials. 

In the real world, real work is required.  But…consider the alternatives. 

What if you need some extra money and you’re considering a part-time job.  Say you work an extra 4 hours a day during the work week (80 hours a month) and you make $10 an hour at this part-time gig (let’s assume that’s your take-home pay, after taxes and what not). 

That lands you a whopping $800/month – $800 that goes away when you stop "doing stuff". 

Alrighty, let’s say you decide to focus on building your business instead.  It’s still a good bit of work, so let’s assume the same 80 hour schedule while you’re getting things going.  That means 80 hours of real work, not 80 hours of "research", "checking stats" and so on. You create a few products, build a list and get some momentum. 

Even if it took you THREE months to get things ramped up, you’d still be better off having focused your time on building your business.  Hopefully you’ll be building an income stream that works without you, or at least with very little input.  It’ll certainly be less hassle than that part-time gig you were considering before you came to your senses.

(Note: The only exception here is if you truly need "now money" to keep a roof over your head or other absolute necessities.  If that’s the case, the surefire job is unfortunately the smart way to go, at least to get to a stable point where you can focus on your escape plan.)

Excuse #10: You Can Already Find That Stuff Online for Free

Here we are with #10 on our "Worst Excuses Countdown"…

Excuse #10: You can already find all that stuff online for free

This is probably one of the most common excuses for inaction, especially when it comes to information products. 

With that in mind, consider the lowly book, the most common information product
(and NOT the one you should start with – a discussion for another time). 

Go check out Amazon.com.  Find nearly ANY topic (nonfiction stuff for our purposes here).  You’ll find tons of books on that topic, more than likely. 

Now go to Google and search for that same topic.  Lots of websites too, huh? 

So why would these authors create these infoproducts when all this info is already available online for free? 

Because someone’s still willing to buy the book.  The info has already been researched, compiled, and organized into an easy-to-use format.  Even my 10 year old cousin would understand the idea of saving time by buying a "finished product" versus researching stuff on her own.  We still make her do it the hard way though. 

Some of your prospects will choose the same option.  But are those types really your ideal prospects anyway?

Excuse #11: Someone Already Has Something Similar on the Market

Let’s continue our list of common excuses…

Excuse #11: Someone already has something similar on the market

Ummm…so there should only be ONE of everything on the market?  That’s insane!  Tell that to McDonald’s whose coming up on the heels of Starbucks and Dunkin Donuts to start serving high-end coffee in their restaurants.  I’m not arguing whether that’s a good idea or not, just pointing out the fact that in just about any market, there’s plenty of room for similar, competing products. 

How about YouTube, Metacafe, Revver and the host of other online video sharing sites (yup, you can even create your own)? 

Or just consider all the choices you find at your local bookstore on just about any topic. 
Will you buy "The Idiots Guide to _______" or "_________ for Dummies^TM"? 

I could come up with tons of examples of this.  I’m sure you could too.

If you happen to be creating an infoproduct, you might have a different way of explaining things that some people prefer.  In fact, a lot of times, people are not only buying the info, but they’re buying a little bit of YOU! 

Just because someone already has a product that covers a certain topic or a service that offers specific benefits, that doesn’t mean you should back away from that idea.  There’s more that one of just about EVERYTHING that’s worth creating, though it’s important to differentiate what you’re bringing to the table (rather than just ripping someone off).

Excuse #12: I Need to Learn a Little Bit More Before I Get Started

Earlier I mentioned that I’d be doing a series of blog posts covering some of the most common reasons people have for not starting their online business.  For some reason, #12 is on my mind today, so let’s do it "Late Show" style, in reverse order (although there’s no real order to this list).

Excuse #12: I need to learn a little bit more before I get started

No, you really don’t need to learn "a little bit more".  Now I’m about to tell you something that  you already know is true, but let me refresh your memory anyway – you’re NEVER going to know it ALL.  No one does. 

Here’s a good example.  One of the best thoughts related to this was something I read on Willie Crawford’s blog in a post where he talked about how he built a list of over 100,000 people.  One of the things he said he did was write information-packed articles (Nothing new there, right?  But are you doing it?  I digress…). 

Notice that he emphasized the fact that they’re "information packed", without holding back.  Why?  According to him:

The reason is that knowledge grows exponentially, and since I’m constantly learning new things, I can never teach you everything that I know.

The big takeaway is that if someone with 10+ YEARS of experience online is STILL learning stuff, then if you wait until you know everything, you’ll NEVER get started. 

Just get the basics and get to work.

Overcoming Common Excuses for Not Building Your Online Business

Often times, people get in their own way when they set out to achieve a specific goal.  The goal could be to get in shape, find a partner, or anything else for that matter…in our case, building an online business.  The point is that no matter what the goal (if it’s worth achieving), sometimes we just put a bunch of excuses and garbage in our way instead of just "getting on with it".

That’s definitely true when it comes to building an online business.  With (seemingly) so much to learn and so many options available, it’s easy to come up with excuses for not getting started, or for not keeping up the momentum once you’re rolling along.  In fact, here are a few of the most common excuses for not starting an online business:

1. I’m not an expert
2. No one will buy that
3. I’m not technical, don’t know HTML and so on
4. I’m not a good writer
5. I’m not a good copywriter (which is different than the one above)
6. I don’t have money to spend on learning, web hosting or other basics
7. I don’t have a list (or a big enough list)
8. I don’t know how to choose a good market
9. I need money now (with minimal work…where’s the big red button because all of this sounds like it’s gonna’ take a long time)
10. You can already find all that stuff online for free
11. Someone already has something similar on the market
12. I need to learn a little bit more before I get started

If you have one of these ideas in your head right now or you have in the past, keep an eye out for a series of future posts.  We’re going to go over each of these excuses one by one and completely debunk them – not one after the other though, probably only one or two a week.  No sense in potentially holding yourself back because of things that completely don’t matter.  When we’re done, you’ll see why all of these are complete nonsense.

Focusing on Leverage

I would say that at least once a week (if not more) I hear someone talking about some job or money related thing that just points out the fact that most of us don’t really focus on building leverage.  The other day, I heard some people talking about how the latest round of promotions in their office were pretty thin since funds for the organization were cut.  Therefore, fewer people got promoted…better luck next year.  Comments like, "Well, that’s life" were all that was offered as the passed-over employees went back to the grind.

Instead of worrying so much about being "given" a promotion, most people would be better off if they used their natural skills and talents to go out and "generate" additional income (or, horror of horrors, develop new skills that allows them to do so). 

It doesn’t matter if it’s done via affiliate marketing, an infoproduct business, making/selling crafts from home or providing some sort of service (though I obviously have my own criteria for choosing among those options).  To some extent, the vehicle used doesn’t really matter.  What’s important is to have some sort of additional income stream that can help you bridge the gap between how much you make now and how much you’d like to be making. 

Ideally that income stream will grow to the point that it can replace what you make from your current employer but will also be systemized so it requires little to none of your time to keep running (so YOU don’t have to be part of the equation).

Why is that?  Is it because of laziness or wanting to take advantage of the work done by others?  Hardly! 

The hard, cold fact is that at some point, you’re not going to be able to do whatever the "thing" is that you do now (or you just flat out won’t WANT to do).  Why not guard against that by setting up that additional income streams now?  Not "multiple streams of income"…just ONE thing.  The former is just an excuse for lack of focus.

This whole trading time for money thing is a bit ridiculous sometimes.  I heard a guy that’s about to "retire" talking about moving to New Mexico.  I guess they pay nearly the same amount there as they do in Washington, DC for his particular job but the cost of living there is much less.  So he commented that maybe he’d work there once he moved, doing the same sort of thing he does now but after he "retired"…presumably because the pay was so great. 

But my question is why would you want to CHOOSE to spend your golden years slogging off to some job, trading even more of your "more-precious-than-ever" time for money, rather than enjoying yourself?  Instead, why not use all that you’ve learned over the last 30-something years and find a way to make that experience work for you, perhaps in the form of coaching, consulting, creating an informational how-to guide or some other "thing" that gives you freedom of time and freedom of location?

Oh well, to each his own I guess…

Don’t Go Stupid While Building Your Online Business

If you didn’t know already, I was an officer in the Air Force for just over 8 years.  The other day I was thinking about some of the stuff we learned back then in my career field.  One day we talked about how certain types of "smart bombs" worked.  In this case, the gist of it is that a laser is reflected off the target and that reflection is picked up by a little doohickey in the nose of the bomb.  That thing is tied to the fins on the back of the bomb that guide it down the path to the target and adjust it’s course to the left and right.  At least I think that’s how it went…it’s admittedly a little fuzzy in my head but that explanation serves our purposes here. 

So if you looked at that path of this thing as it’s coming down towards Mother Earth, more than likely it would be a series of zig-zags to the left and right combined with being too high or too low at any given time.  Bottom line is that the thing is almost constantly off course, overshooting or undershooting the target and has to continually correct course in order to hit the bullseye.

What can we learn from this as entrepreneurs?  Well…

Notice that the bomb doesn’t go a little off course and decide, "Hey, this just isn’t working.  I don’t wanna’ hit that target".  Nope, instead it immediately takes action to get back on course.  Then inevitably…whoops, over-corrected and off course again.  Time to get back on course again.

That’s the same way we need to be as entrepreneurs.  Have you tried something related to your online business that didn’t work as well as you thought it would, or that was a complete disaster?   Did you immediately take what you learned from that experience and get back on course?  Or did you go "off course" saying "This stuff doesn’t work" and other such nonsense.

Note: On those occasions when a so-called "smart bomb" does end up going off course, the pilots say that one "went stupid".

Bottom line: Most of us get from point A to point B in a series of zig-zags rather than a straight line.  When you find out you zigged when you should have zagged, get back on course and don’t "go stupid".

What Would It Take?

I was part of a coaching group here locally for awhile about a year ago.  I found some old notes I had taken and one thing in particular that I found is something I’ve always tried to keep in mind since learning it back then.

It has to do with “powerful thinking” for lack of a better way to put it.  No, I’m not going to go get all Tony Robins on you, but I think this was a really useful way of thinking about those problems, goals or other situations that always seem to come our way.

When faced with such a challenge, ask yourself one simple question:

What Would It Take?

Want to have a list of 10,000 subscribers?  What would it take?  Then keep asking yourself that question until you can get down to some actionable steps you can take to help you reach that goal.

Using the list of 10,000 subscribers as an example, what would it take?:

• That would take roughly 833 new members added to your list each month (about 27 per day)
• What would it take to get 27 signups per day?  A viral special report that people can distribute?  A low-cost report they can sell and earn money from while you get the optin?  Daily blog comments on high-traffic sites related to your blog (you DO have a blog don’t you?)?  An interview between you and someone that already has a large list where you collect the optins?

Need to make $5000 a month to quit your job?  What would it take?

• 3 products @ $55 each and selling roughly 1 of each per day.  Okay, so what would that take?
  • Deciding on a market where you could offer 3 such products at that price and testing the market
  • Creating the products,sales pages, blog
  • Promoting those products, building traffic, increasing conversions, adding backend offers, and so on
  • etc.
• 200 newsletter subscribers @ $25/month each (or hey, why not 25 subscribers @ $200/month)
  • Market selection
  • Content creation…content with enough value to warrant the $25 (or$200) fee
  • List building (because more than likely only a percentage of people on the list will sign up)
  • etc.

Okay, you probably get it by now.

But notice the question is “What Would it Take” not “Can This Be Done”.

It’s assumptive in it’s wording – that whatever you’re considering actually CAN be done and that it’s just a matter of figuring out the pieces of the puzzle.

And notice that it’s not “What Would I Need to Do”…you might need to rely on others to help you with some of the things you come up with.

If you have a goal you’re shooting for and you know where you are right now, the answers to the “What Would it Take” exercise help you bridge the gap  between point A and point B.

So when you stop and think about it, “What Would it Take”  is a very powerful question.

My In-House Ban on Television

Well, I’m finally taking the advice of nearly every successful person I’ve met when it comes to television.  Okay, at least a step in that direction. 
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Another Way to Stop Wasting Time on Mundane Tasks

Okay, this post might seem a bit off topic, but it’s really not.  It’s all about TIME…or more importantly, using it most effectively. (more…)

You Can Overcome This Common Trap That Stops Most People From Creating Their First Money Making Product – Guaranteed

I was reading some comments made about a YouTube video I found the other day.  The video was basically an offer for a tutorial on a popular piece of software.  It looked good…in fact, great for people who wanted to fast-start their use of this software without getting bogged down in unnecessary details.  Sounds like the typical model for a good info product, right? Well, low and behold, one of the comments was something like, “Hey, so-and-so already offers tons of free tutorials on this software, so why would anyone buy this?”. And that brings me back to one of the things I listed in my Biggest Mistakes People Make When Starting an Online Business…thinking you have nothing of value to offer that someone else would pay for.  Or, thinking “No one would buy this”.

Here are three very important reasons why this guy was totally off the mark and why you shouldn’t be so quick to invalidate your product ideas using the same false logic.

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Time Management Tips for Busy Entrepreneurs

Whether you’re a full-time entrepreneur or you’re just getting started building your business, the fact that there’s a limited amount time will become crystal clear, if not already.  It’s one of the biggest challenges – just getting it all done.  Here are a few ideas you might want to try out.  These are things that I’ve implemented recently to take back more of my time that you might want to try too. (more…)

Is Fear of Criticism Blocking Your Success?

Last week I wrote about a post I read where Richard Lee discussed getting over the fear of promoting your first product.  This is such a HUGE deal that I felt compelled to throw together a quick post on that too.

See, there are tons of ideas out there and a zillion ways to make money – online or offline.  But there’s so much inner game, YOU-stuff that we all have to get over that it seems like that’s the thing that holds people back more than anything else.  It’s certainly not a lack of ideas.  Case in point, this fear of criticism crap when it comes to rolling out products – specifically that very first one. (more…)

Opportunity or Scarcity? You Decide

This post is somewhat in keeping with the last one about planning for your business for the next year, but covers much broader questions.

Do you see a world full of opportunity or scarcity?

I find it amazing how many choices people have these days, although sometimes too many choices only creates inaction.  Sort of like the old joke that if there’s a fire in a movie theater, you better hope there are only one or two exits, otherwise people won’t know which way to go. 

But if you can narrow down what it is that you’d really like to do, there’s probably no better time than right now to step up to the challenge.  Sure, you need to make sure there’s a market for whatever your "thing" is, but that goes without saying.  I’m not totally convinced you can just "do what you love" without some practical business analysis backing it up, unless you just want to do it as a hobby.  That being said, if there truly is a market for what you’re hoping to do, you’re on the right track.

It amazes me how many tools are available now, either for free or for only a small fee, that allow the "little guy" to setup a successful business.  Things that we all take for granted now, like being able to accept credit cards via Paypal or using something like 1ShoppingCart.  Or how incredibly easy it is to get a toll-free number that forwards to your voicemail.  All of those little business infrastructure things are readily available and I bet if I made an exhaustive list of "stuff" I use, it would only come out to a few hundred dollars per month…if that much.

So it’s really just a question of what you want to do.  If you have a little bit of computer skill (and if you made it here, then you do), a half way decent idea, and the drive to see it through, there are an ENORMOUS amount of options available.

Do you want to be a…

• writer
• movie creator
• animator
• game designer
• consultant
• retailer
• software developer
• online store owner
• copywriter
• musician
• graphic designer
• web designer
• teacher/trainer
• newsletter publisher
• photographer

The list goes on and on, but it amazes me sometimes how much is out there.  Now granted, I’m not saying that doing any of these is EASY per se.  But when has something worth doing ever been EASY? 

The point is that all of us (thanks in large part to the Internet) have a mountain of information and resources available to us to find out HOW to get going with any of the above, or whatever it is you want to do.  It’s also much easier for the individual to have a voice, to speak their mind, show their talents and skills, etc.  Imagine how difficult it would have been to get started with one of the above ideas 30, 40, or 50 years ago (if these types of things even existed back then).

So as we round the bend and finish out 2007, maybe it’s a good time to figure out where you’d like to be heading next.  No, don’t quit your job or do something crazy.  Just realize that there are many, MANY more options available to all of us to build the life we truly desire.

That’s it, I Quit! (And Why You Should Too Before It’s Too Late)

Lately I’ve been talking a lot with friends and family about my online business. The good part is that I have everyone’s support, which is great. But I still get the sense sometimes that they don’t really “get it”…that they think it’s some sort of hobby or thing I’m doing on the side. And almost no one I’m close to has an understanding of leverage, that time is the one thing you can’t get back, and that there’s an abundance of money and success out there for just about anyone to grab onto. So as of today, I’ve decided:

…trying to explain why I don’t want to be an engineer (even though I have an electrical engineering degree) 

…trying to get across the point that it’s not just about “being my own boss” or “working from home” and that it’s more expansive than that…that it’s really about building a business that gives me FREEDOM. 

…attempting to get across the fact that it’s absolute INSANITY to trade time for money – to trade something absolutely FINITE (time) for something INFINITE in the number of other ways in which it can be obtained (MONEY) 

…explaining over and over and OVER again, ad nauseum, the idea of leverage, of doing work once and continuing to be paid for it over and over again as opposed to “an hour’s pay for an hour’s work” which limits your income by default 

…trying to get people to understand why I still feel like my engineering degree was one of the worst choices I EVER made – potentially stovepiping me into the rat race had I not seen the light 

…constantly explaining that taking a job in order to be able to afford an expensive mortgage is a flat out STUPID idea…it’s just a house for crying out loud. Not that you shouldn’t buy a house, but here in the Maryland/DC Metro area, we have houses in the $400,000 – $500,000 ballpark – CRAZY by any measure unless you have a ridiculous downpayment. 

…trying to explain why I don’t want to play mother-may-I with anyone when it comes to how and where I spend my time, especially when it comes to my family. 

…trying to get people to realize the hard, cold fact that out time here is limited by definition and that giving control of it to someone else is giving away the only thing of real value 

…that having a J-O-B really is being “just over broke” like the joke says…that they’re just going to pay you enough to keep you around 

…explaining how the 40 hour work week is a myth…how is it that it takes everyone EXACTLY 40 hours a week to get done whatever it is that they need to get done? 

…explaining that no matter how efficient you are at your job or how fast you get done whatever it was that you were hired to do, you won’t be rewarded for your efficiency by having to spend less time at work, you’ll just get more work to fill out the 40 hours (e.g., other duties as assigned). But weren’t you hired to take care of “x” that you just got done in half the time? Seems just as reasonable to work slow and inefficient and that’s a problem. 

…trying to get them to see that our educational system is built on the foundation of cranking out employees, followers in large part. Wasn’t American was founded on initiative and individual drive? They didn’t come all the way across the pond looking for a job…sheesh! 

I’m not sure if you’ve got people in your corner, people betting against you or somewhere in between. Just realize that most people are never going to “get” this stuff, so my advice is don’t even bother trying to explain it (other than as a means of keeping the peace with your spouse I suppose). 

Instead, just keep plugging along doing what you know works.

Once Upon a Time in a Tiny Mexican Village…

A boat docked in a tiny Mexican village. An American tourist complimented the Mexican fisherman on the quality of his fish and asked how long it took him to catch them.

"Not very long," answered the Mexican.

"But then, why didn’t you stay out longer and catch more?" asked the American.

The Mexican explained that his small catch was sufficient to meet his needs and those of his family.

The American asked, "But what do you do with the rest of your time?"

"I sleep late, fish a little, play with my children, and take a siesta with my wife. In the evenings, I go into the village to see my friends, have a few drinks, play the guitar, and sing a few songs. I have a full life."

The American interrupted, "I have an MBA from Harvard and I can help you! You should start by fishing longer every day. You can then sell the extra fish you catch. With the extra revenue, you can buy a bigger boat."

"And after that?" asked the Mexican.

"With the extra money the larger boat will bring, you can buy a second one and a third one and so on until you have an entire fleet of trawlers. Instead of selling your fish to a middle man, you can then negotiate directly with the processing plants and maybe even open your own plant. You can then leave this little village and move to Mexico City, Los Angeles, or even New York City! From there you can direct your huge new enterprise."

"How long would that take?" asked the Mexican.

"Twenty, perhaps twenty-five years," replied the American.

"And after that?"

"Afterwards? Well my friend, that’s when it gets really interesting," answered the American, laughing. "When your business gets really big, you can start buying and selling stocks and make millions!"

"Millions? Really? And after that?" asked the Mexican.

"After that you’ll be able to retire, live in a tiny village near the coast, sleep late, play with your children, catch a few fish, take a siesta with your wife and spend your evenings drinking and enjoying your friends."

And the moral of this story is:

Know where you’re going in life… you may already be there. 

Never Give Up

Nuff said…

Why Don’t You Just Go Out and Get a “Real Job”?

As I continue down the path of entrepreneurship, I always have the sneaking suspicion that many of my friends and some of my family have this question in the back of their minds.  I suppose this article is an attempt to tackle that question ahead of time and might be good food for thought for others as well.

1. A "Real Job" Provides No Leverage

This is a biggie and had to be mentioned first.  A so-called real job allows you ZERO leverage.  Leverage?  What’s that?  Quite simply, it means that with a real job, you’re being paid for your time.  You only get paid when you work and YOU have to be one doing the work.  No matter what your profession is, whether you’re a doctor or a ditch digger, with a typical job, you only get paid for the time between when you "clock in" and when you "clock out".  The alternative is to put your time and energy into building up something that will continue to pay you over time without needing your continued, personal involvement.  Yikes!  You mean a business?  But I don’t know how to do that…

Well that might be true, but most of us didn’t know how to do ANYTHING if you go back far enough.  I think we hold ourselves back from doing things because of not knowing all the answers.  But in this information age where you can find out how to do just about anything thanks to Google, that’s a pretty darned weak excuse if you ask me.

2. A "Real Job" Automatically Puts a Ceiling on Your Income

Speaking of time, because there’s only so much time in the day and you’re paid based on your time in a "real job", that automatically puts a cap on the amount of money you can make.  Whatever you make per hour multiplied by 8,760 hours is the absolute max you can make in a year, assuming you didn’t sleep, eat or do anything else but work.  In addition, most employers would agree that a particular job only has a finite amount of value.  So the prospect of getting a raise might only be worth holding onto up to a certain point. 

And on the issue of retirement, especially for those that still get pensions (a dwindling bunch), I say do the math.  I was in the Air Force for about 8 years.  As I contemplated getting out, it struck me that if I stayed in and retired as a Lieutenant Colonel, I would have put in twenty years of my life and would only be getting retirement pay of about 50% of my base pay.  Sure, it’s paid forever (we assume) but I don’t want to live off of 50% of what I’m used to!  You gotta’ be kiddin’ me!  I would have only been 43 years old so my retirement pay plus the best performance from the Thrift Savings Plan or whatever would STILL mean I’d have to go slog off to work everyday after I was "retired".  Ummmm…no.  I’ll do the hard yards now, not in my golden years.

3. A "Real Job" Allows You Limited Control Over Your Time (If Any)

Since we’ve already mentioned the "time" issue twice, let’s go for a hat trick.  The other issue with a "real job" is that you have limited control over your time, if any control at all.  And when it’s all said and done, time is the only thing that truly cannot be replaced.  Time with family, with the kids, friends, seeing the world, learning and living life…that’s all way more important than being able to buy the latest doohickey from the electronics store, having the biggest house on the block, the fanciest car.  That’s not to say that you can’t have both but with a "real job" your chances of doing so are pretty slim, at least for most of us.

4. A "Real Job" Rarely Requires the Same Level of Personal Growth

This is one I wouldn’t have thought of, however it’s something I came across in my own experience.  The personal growth and development that I’ve had over the last few years has been phenomenal.  I don’t think that would have happened had I not chosen the path I did and decided to venture out on my own.  Sure, most jobs offer professional development courses of one degree or another.  But often times, it becomes a square to check off versus something that’s taken seriously…perhaps just another thing to do to make yourself look better on paper when it comes time for promotions.  But as a business owner or self-employed individual, it’s virtually a necessity that you continue to grow, that you continue to face your fears, develop leadership skills, sales and marketing skills and other business acumen.

What’s the Best Use of Your Time?

Take what you’re doing right now (Well, not reading this site, but in general.  Oh, you know what I mean). 

Multiply that out over time, replicate that over days, weeks, months…whatever it takes.  The question is: 

Will Doing That Get You to Your Goals?

Of course, this assumes that you have clearly defined goals in mind.  If not, that’s a whole other issue, but here are a few suggestions:

• Send the kids to college
• Take a vacation
• Spend more time with family
• Retire comfortably
• Retire early
• Spend less time at work
• Play golf all day (or whatever your passion is)
• Take care of your parents, grandparents, etc.
• Get that awesome new car
• Donate to charity
• Help clean up the environment
• Buy a new house, car, etc.

So I Ask Again, Will That Get You to Your Goals?

If not, perhaps that’s not the best use of your time?

This is not to say that you should only work and have no time for play or those things we all love to do when we just want to "zone out". 

However, it DOES mean that you should actively choose what you’re doing, how you’re using your time, rather than going through life on "autopilot".  Do you really want to just go home every night, zombie out in front of the TV?  Why not read, take a class, learn something that will inspire you or give you an experience you’ve been looking for?